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They are committed to up to $10 million at IPIX's discretion, no?
There is no verifiable merit to this claim. It is securities fraud to spread false rumors of tender offers of any kind.
That was all in the context of arguing with someone who suggested the company was a ponzi scheme, and thus the stock price would go to zero.
In that situation, assuming no stock sales, all stock, warrants, and sweeteners would have little to no value. So in essence, one would be comparing salary drawn vs the loan, and opportunity cost on the loan and nearly a decade of working time.
The whole argument that IPIX is a ponzi scheme is futile.
Karin corrected me. The loan amount was $2 million. Still a tidy sum on it's own.
Compounded with opportunity cost on $2 million at index fund rates, that loan still far exceeds any salary he has drawn working at IPIX.
Thank you. I just wanted the very public and immutable record to be crystal clear about what you were saying.
And, yes I believe Leo is very, very different from what you describe. I believe he is an honest, hard-working business leader trying to bring life-saving drugs to market.
I just want to make sure I understand your comments...
It's ok to be skeptical, particularly when guidance has not been met in the past. You, however, are accusing the CEO of criminal and illegal behavior. That is not a position to take lightly. I hope you are secure in your position and are prepared to defend it when a partnership comes through and proves it false.
Your criticism is much too harsh.
You accuse the CEO of a criminal "ponzi scheme".
In reality, the CEO put up $10 million of his personal money to keep the company going while advancing life-saving drugs through clinical trials.
He has not drawn enough "lifestyle" money from the company to cover that debt yet either. He has risked more than most here. Your depictions of the CEO are very off target at best.
You neglected the '-' negative sign in front of the $10 mil.
I didnt say Leo has anything to lose. I said he has massive incentive to cut a deal rather than let the company fail if he has the ability to do so.
If he sells the company for $250 million, he walks away with about $30 million + his $10 million loan.
If the company goes to zero, he finishes around -$10 million.
He has much to lose and much more to gain by cutting a deal. He will.
On the contrary, the odds are massively stacked in our favor for a partnership.
I think we'll see large revenue from Kevetrin in the future.
Probably not a great investment if you dont believe in one of the above.
If you believe the pipeline is currently worth $100 million or more, you can rest easy that the CEO has every incentive to do a deal.
If you believe that two phase 3 ready indications in Brilacidin along with numerous additional preclinical and clinical indications are a scam or worth less than $25 million, then sell.
Everyone has to value the pipeline themselves and make the appropriate decision. If its not a sham, they arent going it alone. No incentive to.
There will be a partnership.
Leo has large amounts of stock along with 16 million+ warrants @0.11 that expire next January. He stands to lose a lot by going it alone. He has every incentive to do a deal.
I can't speak for blanka but I certainly do. I have provided you with a dozen pre-clinical/phase 1 cancer deals worth over $100 million.
Happens all the time. We haven't partnered because if we can repeat the 2/2 with 15/15 using a pill it becomes a billion dollar drug instantly.
I agree. Unfortunately, that's also what conspirators would want us to think.
It hasn't been disclosed yet. I assume we were the victim of sample size that was too small in the P2A 200mg arm along with overly aggressive subgroup analysis by IPIX.
This probably resulted in both of the phase 2B arms failing to do any better than placebo much like the 50mg, 100mg, and 150mg in the phase 2A. If the company saw anything resembling PASI75 > 20% they would have put a positive spin on things. It must have been completely hopeless for them to not even PR it and just scrub it from the pipeline.
The whole thing doesn't sit well with me. A number of conspiracy theories move through my head (CRO incompetence, sabotage, a Celgene partnership wanting it to disappear, etc.) The simplest answer though is that we were misled by the the 200mg arm in phase 2a and Prurisol was no better than Ziagen (or placebo) in treating psoriasis in a statistically powered trial.
I don't recall there ever being an attempt to use a pill for B-ABSSSI.
From the OM and UP trials we found that there is low systemic absorption of Brilacidin. This is good as it makes the drug safe and unlikely to cause side effects in treating OM/UP. The effect on gut bacteria probably needs to be explored in UC applications farther up the tract.
ABSSSI is not dead.
The phase 3 trials would have been expensive to finance on our own.
Deal terms on it may not have been good enough for Leo's taste OR doing a deal on ABSSSI would have muddied the waters of doing a deal on the more lucrative anti-inflammatory indications.
Once we have ample cash, ABSSSI will be put through the required phase 3 trials and will be sold for a tidy profit.
Prurisol has failed. It was a regrettable waste of company capital but this is biotech. It is dead and gone so let's let it rest in peace back in 2018.
Why do you say Kevetrin has failed? It passed a phase 1 safety trial, demonstrated p53 modulation in two human patients, and has very compelling pre-clinical data. It appears bio-availability will be high enough to convert to an oral drug and proceed with a large phase 2 trial. Nothing to suggest a failure.
What do either of those drugs have to do with Brilacidin which has already passed phase 2 trials in two indications? The tweak on ABSSSI has already proven successful in a very large phase 2B trial where it matched daptomycin using a single dose vs a 7-day regimen.
Polymedix did the first trial with dosages that were too high. They later went bankrupt. CTIX picked up the drug, tweaked the dosage, and ran a successful phase 2b with it.
B-ABSSSI is now a phase 3 ready asset. It is worth more than $25 million.
OM is now phase 3 ready as well.
Polymedix Brilacidin ABSSSI was a phase 2 that could not go to phase 3 because they used too high a dosage resulting in SAEs. BP doesn't rummage around the scrap pile looking to tweak dangerous drugs.
IPIX did. Now IPIX Brilacidin is safe and ready to start phase 3 in two indications along with numerous other trials. Very different ball game.
IPIX won't default/BK. Worst case Leo eliminates all employees, stops taking salary, and pays whatever minimal bills are required through some dilution. Plenty of time to shop for a deal if he's going to auction.
And that's your worst case. Green days coming.
Fortunately for IPIX shareholders, BP doesn't need to believe Brilacidin is a miracle drug. They simply need to believe that it has a worth considerably more than $25 million. With two indications ready for phase 3 (ABSSSI and OM), one ready for phase 2B (UP), and numerous preclinical applications (HS, Acne, Atopic Dermatitis, coatings, etc.) they probably do.
That doesn't even count Kevetrin which as a phase 1 asset is worth far more than $25 million.
As always, it's about Leo and BP meeting in the middle and coming to an agreement. With no way for IPIX to move forward on it's own and significant incentive for Leo to make a deal (10's of millions of shares, 10's of millions of warrants that expire next year, $10 million loan into IPIX, etc.) I expect a good, solid deal will be struck. It may disappoint the $100/share dreamers but I think every one will end up green on their IPIX shares.
A miracle drug gets us billions. We don't need billions to have a very profitable investment.
Zandant,
What do you value the pipeline at? A couple years ago you were still buying well above $100 million. That was without B-OM/UP results and a 2/2 Kevetrin trial.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=126565529
Do you still feel the pipeline is worth $100M+ with room to grow? I understand the market values us around $25 million at this time but what is your opinion?
A BP doesn't care about "questionable leadership" or company size when it is bidding at auction. If Leo held an auction today, what do you think the minimum the pipeline could fetch is?
The chances of a deal are considerably better than 50-50. Both of our drug platforms are worth more than our market cap. Leo Ehrlich has a huge amount of stock so even if he has to firesale the company for $100 million he won't let it rot on the vine. On top of his shares he has a considerable loan sunk into this company. A deal is more a matter of when and how much.
It could be the two you listed but I think you left out some possibilities.
Here are a few from 2016:
http://fortune.com/2017/02/24/biggest-biopharma-deals-2016/
You're thinking too small.
I don't think it was meant to change any opinions. It merely demonstrates that many retail investors, who needed to wait for IRA deposits to buy more, are still on board.
I know it's been a long ride down for you. Good things are coming and I think all will turn out well for your investment.
I think a merger fits between a partnership and auction/buyout. Who knows, there could be a company with more cash than BP is offering that had a drug fail and needs a new pipeline. Anything is possible - good thinking Zandant! So many possibilities.
As for the second part, yes I did. The stock price was $0.08-0.09 two weeks ago. We're up 30-50% from there which is a strong vote of confidence for Leo.
Partnership, auction, or funeral. Those are our options. My money is on the first two.
$IPIX deal coming in 2019.
I am, as I said two posts ago, not a financial advisor of any sort and therefore cannot offer advice to you or anyone else.
I can only provide my non-expert opinion. I strongly believe IPIX will be bringing in a very large deal this year. I see no other possibility. We are headed for great wealth with IPIX.
A deal will be coming JT. Do not fret. Whether it will be in 2019 or not is another question. These things take time and the bigger the deal, the longer it takes.
The IPIX deal will be a whopper. It will be worth the wait.â
I'm glad you're finally seeing the light on the IPIX pipeline. I am not a licensed financial advisor so I can't recommend what you should do but my opinion is I think your IRA will do very well with a large IPIX holding.
There are some tax lossers coming back in along with a bit of IRA money too. Slowly but surely. Hopefully we have turned the corner and are headed to a very bright future.
Pretty obvious...a partnership of course.
There's gold in them hills. We're going to give half of it to the guy with the drill if he helps us get it out. There's about a dozen guys with drills just laying around ($50B+ big pharmas) looking for work.
Maybe he'll just want the deed to the mountain and if the price is right we might just sell it too him as well.
Such a dramatic reading of the current situation. Brilacidin has 7+ indications in development and Kevetrin is being prepared for future studies as an oral drug.
Several multibillion dollar markets are waiting to be tapped by these indications. We're just lining up the appropriate partnerships for then.
Stay cool honey bunny. Stay cool.
Sometimes it helps to looks at some of the good deals that took place on pipeline assets at similar stages to Brilacidin (two indications ready for phase 3, multiple preparing for phase 2)
https://www.formatherapeutics.com/wp-content/uploads/2017/11/Top_10_Hit_Parade_EndPoints_NOV2017_2.pdf
Some real whoppers in there and we're very competitive to some of the assets scooped up there.
It's also nice to see some preclinical deal numbers:
https://ceoworld.biz/2017/12/05/a-review-of-preclinical-deals-in-2017/
It clearly highlights how a phase 2 (or even phase 1) is not necessary to sign a deal much greater than our current market cap.
Good stuff. Good night.
You conveniently left out the part where I said I was entertaining your fictional scenario in Post 253347:
I think they were very interested. I think either Leo was not ready to entertain a deal at the time or they talked and did not come to an agreement on terms.
Pfizer would obviously be very interested in this.
Preclinical combo tests were performed at Beth Israel using Kevetrin and a Pfizer drug. It says nothing about Pfizer's involvement.
Furthermore, thise tests were wildly successful as noted in this PR:
http://m.marketwired.com/press-release/cellceutixs-clinical-trial-anti-cancer-agent-kevetrin-meeting-its-goals-approaching-otc-ctix-2049208.htm
Again, we will make a gigantic deal on Kevetrin after we perfect the oral formulation. We want to unlock more easy value before partnering.
Leo is addressing your concerns. Please see the Baystreet article Boodog posted.
You say Leo isn't giving you enough PR. He heard you and voila...a nice comparison with Galera highlighting our overlooked value.
He's working hard to get the word out about our wildly successful results and massively undervalued market cap. He's doing right by shareholders by fighting to get a fair valuation.
Why dont you like that?